Egypt holds off renting third FSRU until electricity demands determined

According to Reuters, an official at EGAS has said that Egypt will delay its plans to rent a third floating storage regasification unit (FSRU) for one month, until the ministry of energy determines its electricity requirements.

Reuters claims that the third FSRU is expected to arrive at the end of June 2017 in order to meet the increase in demand from new power plants coming online.

The official reportedly said: “We decided to delay holding the tender for one month (until end-November) until an agreement is made with the ministry of electricity over its needs for LNG over the coming period.”